Buenaventura FSRU

From Global Energy Monitor
This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

Buenaventura FSRU, also known as the Pacific LNG Terminal, is a proposed floating LNG import terminal in Colombia.


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Project Details

  • Owner: Unidad de Planeación Minero Energética (UPME)
  • Parent comany: Unidad de Planeación Minero Energética (UPME)
  • Location: Bay of Buenaventura, Colombia
  • Coordinates: 3.895046, -77.068010 (approximate)
  • Capacity: 4.13 bcm/y (400 mcfd)[1]
  • Status: Proposed
  • Type: Import
  • Start Year: 2026[1][2]

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day


The Colombian energy planning agency UPME has been studying the possibility of building a LNG import and regasification terminal on Colombia's Pacific coast since 2017.[3] In November 2018, the government announced a plan to launch a tender for an FSRU to be located in the Bay of Buenaventura, on the Pacific coast. The FSRU would become the second import terminal in Colombia and would commence operations at the end of 2023. The selection of the winner was expected in mid-2019.[4]

In July 2020, the government relaunched the tender process for the FSRU and the related Buenaventura-Yumbo Gas Pipeline, which will connect the facility to Yumbo, Valle del Cauca in the south-west of the country. The terminal and the pipeline together were estimated to cost US$700 million and the rationale for the project is that Colombia is expected to see increased gas consumption in the coming years. Under the new tender timetable, a single bidder for construction and operation of both the FSRU and the pipeline was to be agreed by March 2021, with the facilities scheduled to become operational by late 2023/early 2024.[5] Colombian pipeline operator TGI was reportedly contemplating a bid for the project as of 2020.[6]

In October 2021, Colombia's energy planning agency UPME announced that it had canceled its tender for the terminal and pipeline project due to lack of interest.[7][8][9] Analysts have cited several potential reasons for the unsuccessful tender, including the project's complexity and high financial risk factor, seismic threats, changing economic conditions, and opposition from domestic gas producers and environmentalists.[8] However, UPME did not rule out reviving the tender process at a future date.[2][8][9]

In late 2022 the process was re-launched under new guidelines, including doubled terminal storage capacity (from 100,000 m3 to 200,000 m3), lower barriers to application, and clearer process details.[10][11][12][13] As of September 2022, the Colombian government was set to receive economic offers in March 2023 and announce the final recipient of the contract by May 2023.[14] In February 2023, while retaining the previously stated bidding deadline of March 2023, the government announced additional details of the tender, including a reduction in required storage capacity from 200,000 m3 to 170,000 m3.[1][15]

In late February 2023 a new bidding deadline of June 8, 2023 was established[16][17], and in May the deadline was pushed back to July 6, 2023.[16][18] In June 2023, faced with limited interest from investors, the Colombian government announced that it had extended the deadline for submission of bids yet again, this time until August 10, 2023.[19][20]

The proposed Pacific LNG Terminal is distinct from the Aguadulce LNG Terminal, a separate LNG project being studied for development at the northern end of the Bay of Buenaventura.[21]


Opponents of the Buenaventura terminal project have objected to its completion on various grounds, including environmental concerns about bringing Qmax ships into the protected waters of Buenaventura Bay, logistical concerns about the terminal's proximity to military installations on Isla Naval, and economic concerns related to the high cost of imported natural gas.[22]

Articles and resources


  1. 1.0 1.1 1.2 "Impulsar la planta de regasificación del Pacífico". Ministerio de Minas y Energía. Retrieved 2023-07-19.{{cite web}}: CS1 maint: url-status (link)
  2. 2.0 2.1 "Reapertura del proceso de selección del inversionista a cargo de la Terminal del Pacífico en Colombia ¿Qué ha cambiado?". GNL Global. July 19, 2022.{{cite web}}: CS1 maint: url-status (link)
  3. "Definición y Elaboración de las Condiciones Técnicas de Ingeniería Conceptual para la Construcción de la Planta de Regasificación en la Bahía de Buenaventura, Pacifico Colombiano" (PDF). UPME (Unidad de Planeación Minero Energética). November 24, 2017. {{cite web}}: line feed character in |title= at position 86 (help)CS1 maint: url-status (link)
  4. GIIGNL World Report 2019 GIIGNL, accessed August 5, 2019
  5. "Colombia relaunches bid process for Pacific LNG import terminal," Shearman and Sterling, Jul. 15, 2020
  6. "Colombiana TGI mantiene interés por proyecto de GNL". BNamericas. May 27, 2020.{{cite web}}: CS1 maint: url-status (link)
  7. Colombia aborts Pacific LNG tender, BN Americas, Oct. 25, 2021
  8. 8.0 8.1 8.2 "UPME declara desierta la convocatoria para buscar el inversionista de la Terminal del Pacífico en Colombia". GN Global. October 25, 2021.{{cite web}}: CS1 maint: url-status (link)
  9. 9.0 9.1 "ACTA DE DECLARATORIA DE CONVOCATORIA DESIERTA - CONVOCATORIA PÚBLICA UPME GN NO. 01-2020" (PDF). UPME. October 21, 2021.{{cite web}}: CS1 maint: url-status (link)
  10. Torres, Mónica (19 July 2022). "Reapertura del proceso de selección del inversionista a cargo de la Terminal del Pacífico en Colombia ¿Qué ha cambiado?". GNL Global. Retrieved 28 October 2022.
  11. Morales Soler, Daniela (22 August 2022). "Los 'peros' que se mantienen sobre la Regasificadora del Pacífico". Portafolio. Retrieved 28 October 2022.
  12. "Los aspectos generales de la Regasificadora del Pacífico". Portafolio. 18 September 2022. Retrieved 28 October 2022.
  13. "Lista nueva convocatoria en Colombia para construir la regasificadora del Pacífico". Valora Analitik. 19 September 2022. Retrieved 28 October 2022.
  14. "In 2023 the Petro government will award a project to import gas through the Pacific". Semana. 30 September 2022. Retrieved 28 October 2022.
  15. "Colombia actualiza normativas para desarrollo de proyecto de importación de GNL a través del puerto de Buenaventura". Mundo Maritimo. February 13, 2023.{{cite web}}: CS1 maint: url-status (link)
  16. 16.0 16.1 "Se volvió a mover recepción de ofertas para construir Regasificadora del Pacífico". Valora Analitik. May 24, 2023.
  17. "Colombia posterga licitación de proyecto de GNL en el Pacífico". BNamericas. February 23, 2023.{{cite web}}: CS1 maint: url-status (link)
  18. "Colombia sets new date in multimillion-dollar Pacific LNG tender". Upstream Online. June 1, 2023.
  19. "Regasificadora del Pacífico | Vuelven a correr cronograma: ¿hay desinterés?". Valora Analitik. June 23, 2023.{{cite web}}: CS1 maint: url-status (link)
  20. "Colombia establece nuevos plazos para licitación por proyecto de GNL". BNamericas. June 27, 2023.{{cite web}}: CS1 maint: url-status (link)
  21. "FEASIBILITY STUDY FOR THE AGUADULCE LNG TERMINAL AND POWER PLANT PROJECT IN COLOMBIA" (PDF). USTDA. October 30, 2020.{{cite web}}: CS1 maint: url-status (link)
  22. "Los pecados que lleva a cuestas la regasificadora del Pacífico". Portafolio. February 4, 2020.

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External resources

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